freakypab

Why are CVS receipts so long?

NYSE:CVS   CVS Health Corporation
CVS has an interesting look to it. On one hand the recent rally got over extended and profit takers sold. The 50MA held an bounced CVS back to technical uptrend on EMAS. However i am not fully convinced. Since its a neutral play there is 2 scenarions. Bullish EMA continues to hold as support can take calls on the EMA support and ride back up to 107.46. Problem is emas are tight so support can be weakish. Bearish scenario would be EMA break sends it to 102.98 near 50MA can bounce here a break there would be ideal short play to ride down to 98.77.

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